Genetic variability is the most important factor for the success of any crop improvement program. Hence, the evaluation of germplasm has to be conducted as a preliminary step to study the extent of variability available in the germplasm and to identify suitable high-yielding genotypes that can be utilized in the crop improvement program. The present investigation was carried out to estimate genetic variability, heritability, and genetic advance for yield and yield contributing characters among seventy-nine diverse genotypes of mungbean for eleven quantitative traits. Significant differences were observed among genotypes for all eleven characters studied. The high degree of genetic variability along with high heritability and high genetic advance as percent of mean were recorded for seed yield per plant, number of pods per plant, harvest index, biological yield per plant, and plant height; which indicates that these characteristics were under the control of additive gene action and therefore, form the basis of selection for the mungbean improvement program.